Bitcoin Hits Two-Week High; Bernstein Reaffirms $150K Target
In brief
- Bitcoin traded at $63,836 Monday after touching $63,900—highest price in two weeks
- Bernstein maintains $150,000 year-end target despite calling correction 'painful'
- Bitcoin lost all Trump reelection gains, down nearly 50% from October highs
- Reaching $150K requires 135% jump from current levels
- Regulatory clarity could boost institutional adoption and market liquidity
Price Recovery and Correction Context
Bitcoin jumped 1.7% in the last 24 hours and more than 6% over the past week. Yet the recovery masks a brutal backdrop. Since reaching a new all-time high in October, Bitcoin has fallen nearly 50%, and has seen all its gains since Trump's reelection wiped away in the last eight months.
Bernstein's take on the downturn struck a measured tone. The firm acknowledged the pain while suggesting the current market environment carries some silver linings.
"Bottom line, any crypto correction is painful, but this one has been rather comforting," analysts from the financial firm wrote.
The $150K Target and Path Forward
Bernstein analysts maintain an "ambitious" target of $150,000 per Bitcoin by year's end. To reach that level, Bitcoin would need to jump nearly 135% from its current price. The firm framed this target as lofty given current market headwinds, but signaled conviction in the longer-term cycle.
Bernstein expects the Bitcoin cycle will eventually turn and continues to watch BTC flows for signs of life. One potential catalyst sits in Washington. Odds of the Clarity Act's passage by the end of the year sit around 50%, according to Polymarket. If regulatory advancement comes, Bernstein expects more market liquidity and institutional adoption for both crypto-native assets and blockchain versions of real-world assets.
MicroStrategy's Role as Net Buyer
One major holder continues to support the market. MicroStrategy's Strategy sold $216 million worth of Bitcoin last week to fund dividends, while extending its USD reserve to more than $2.55 billion. The firm maintains USD reserve coverage of approximately 17 months for dividend and interest expenses, with any reduction below 12 months requiring board authorization.
Despite the sale, Bernstein sees no risk of forced liquidation. The firm stated it looks unlikely any major Bitcoin forced supply could come from Strategy, and it continues to be a net buyer in the market.
Frequently asked questions
What's Bitcoin's current price and how high is it in recent weeks?
Bitcoin traded at $63,836 on Monday after touching $63,900 earlier in the day—its highest price in two weeks. The asset has jumped 1.7% in the last 24 hours and more than 6% over the past week.
Why do analysts call Bernstein's $150K target ambitious?
To reach $150,000 by year-end, Bitcoin would need to jump nearly 135% from its current price. This target appears lofty given that Bitcoin has fallen nearly 50% from its October all-time high and has lost all gains since Trump's reelection.
Could regulatory changes help Bitcoin reach $150K?
Bernstein sees potential in the Clarity Act, which has about a 50% chance of passing by year-end. If regulatory advancement comes, the firm expects more market liquidity and institutional adoption for crypto-native assets and blockchain versions of real-world assets.
